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he didn't say they have to go up to clinton levels. that's where i think you begin to see the outlines of the deal that we will end up having, hopefully, at the end of the year. >> do you see signs of republicans that, yes, i have heard this too from actually republican aides. i haven't -- not anybody that was willing to put their name on it and would vote on it, but who said, you know, we sort of see that there probably will be something around tax rates, but it won't be back up to the clinton levels, and it may be for not the $250,000 limit. is there anything up there that makes you think republicans would give on the rates? >> republicans have told me privately they will give on the rates. they are not in the interest after this election in defending millionaires. the rates go -- the threshold for tax increases moves off of 250,000 to 500, 750,000, 800,000, a million, they will budge on rates. it will probably end up being somewhere around 37%. it's time for some give. they don't want to say it at the mikes, but they've been saying
he didn't say they have to go up to clinton levels. that's where i think you begin to see the outlines of the deal that we will end up having, hopefully, at the end of the year. >> do you see signs of republicans that, yes, i have heard this too from actually republican aides. i haven't -- not anybody that was willing to put their name on it and would vote on it, but who said, you know, we sort of see that there probably will be something around tax rates, but it won't be back up to the...
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the clinton deal as part of the budget control act. we're going to do $1 trillion in cuts. as secretary geithner pointed out, the president's budget contains additional cuts. and i don't think people recognize this. the president's budget over the next 10 years has more additional savings in medicare than the republican ryan budget over the next 10 years. let's see their plan. the reality is, they attack the president viciously, claiming he cut medicare by $716 billion. what they wanted to do was to add that $716 billion back into medicare, which would have cut the solvency by eight years. so they attack him for $716 billion, and now they are coming around saying, mr. president, you don't have enough medicare savings in your plan when in fact his plan over the next 10 years -- >> well, both things can be true. there's still not enough detail about how you fundamentally restructure medicare because the president does not want to make that commitment yet before he solves the tax issue. we'll come back. >> absolutely the right point, davi
the clinton deal as part of the budget control act. we're going to do $1 trillion in cuts. as secretary geithner pointed out, the president's budget contains additional cuts. and i don't think people recognize this. the president's budget over the next 10 years has more additional savings in medicare than the republican ryan budget over the next 10 years. let's see their plan. the reality is, they attack the president viciously, claiming he cut medicare by $716 billion. what they wanted to do...
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the assumption that simpson-bolles had, the assumption that gang of six hilary clintons and said to our republican colleagues give us back what you want for a down payment. we're not going to solve all of this by the end of the year. then they said no, give us more details. through sakt geithner they've laid out more details. i think it's also -- >> in terms of new details, and it's taken so long. >> it's also incumbent on the president to realize that this is a conversation that he has to have not just with washington but the rest of the country. bringing in business leaders, small business leaders, going out across the country. one reason i think why this time it's going to be different from the failures of the past, the debt krilg debacle, the failure of the super committee, is i think the american people and particularly the american business community, realize what's at stake, and i think an awful lot of us, frankly, in both parties who are willing to get there -- i want to commend kelli as well. there's been a big group of us, well in excess of the majority in the senate who say w
the assumption that simpson-bolles had, the assumption that gang of six hilary clintons and said to our republican colleagues give us back what you want for a down payment. we're not going to solve all of this by the end of the year. then they said no, give us more details. through sakt geithner they've laid out more details. i think it's also -- >> in terms of new details, and it's taken so long. >> it's also incumbent on the president to realize that this is a conversation that he...
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we're proposing to let the rates go back to clinton levels. that would be a good thing to do as a sensible economic policy, and we want to combine that with tax reforms that will limit deductions. there's no surprise in this. we have been proposing this for a very long time. the president campaigned on it and i think that's where we're going to end up. and i think that's there going to be very broad support from the business community and from the american people for an agreement with roughly that shape. >> when you talked about limiting the deductions there have been proposals from governor romney during the presidential campaign, and from other republicans, when you talk about those limitations on deductions, do you include the charitable deduction and the home mortgage deduction? >> i think you're right to point out the essential problem in this, which is, if you try to limit deductions with a $25,000 cap, what you do is you end up hitting millions and millions -- actually 17 million americans -- a huge part of the revenue comes from that b
we're proposing to let the rates go back to clinton levels. that would be a good thing to do as a sensible economic policy, and we want to combine that with tax reforms that will limit deductions. there's no surprise in this. we have been proposing this for a very long time. the president campaigned on it and i think that's where we're going to end up. and i think that's there going to be very broad support from the business community and from the american people for an agreement with roughly...
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the last time it happened was clinton, '93. this really does make a formative change. i think it's creating a lot of opportunity. see how it plays out. a mixture of economic reality and hopefully political momentum. you can see, you know, one thing that wasn't in your little monologue was looking at -- >> just go at it. it was terrible. >> no, it was great. you can only do so much in three or four minutes. how does it fit into the fiscal crisis? you can't have a great economy when wealth is at the high end. you need a strong, broad based economy. >> the debt ceiling leverage. we have seen it used before. here he is talking to mike allen about how he sees the strategy of this playing out. >> this president is not going to extend. he loses his leverage that way. >> republicans have other leverage. they can give him debt ceiling increases once a month, have them on a rather short leash, here's your allowance, come back if you have behaved. >> wait. you are proposing the debt ceiling be increased -- >> monthly. monthly if he's good. weekly, if he's not. >> it's no -- note
the last time it happened was clinton, '93. this really does make a formative change. i think it's creating a lot of opportunity. see how it plays out. a mixture of economic reality and hopefully political momentum. you can see, you know, one thing that wasn't in your little monologue was looking at -- >> just go at it. it was terrible. >> no, it was great. you can only do so much in three or four minutes. how does it fit into the fiscal crisis? you can't have a great economy when...
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. >> a very similar mistake in our analysis of the clinton years. you end up with this big charismatic candidate that seems to fill up all the space that doesn't necessarily mean that the party is drawn. >> when we come back, much more on one of the fundamental issues that has been dividing this democratic and republican party. the issue of immigration. how the gop is starting to think about shifting gears on immigration and the real pressure that president obama may feel on it. that's next. [ woman ] ring. ring. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. >>> unof the goals that president obama thoepd accomplish in his first term was comprehensive immigration reform. here we are in the last month f the first term and it's been pushed off to next year. for the millions of people living without documentation, this is an urgent problem we cannot forget that immigration ha
. >> a very similar mistake in our analysis of the clinton years. you end up with this big charismatic candidate that seems to fill up all the space that doesn't necessarily mean that the party is drawn. >> when we come back, much more on one of the fundamental issues that has been dividing this democratic and republican party. the issue of immigration. how the gop is starting to think about shifting gears on immigration and the real pressure that president obama may feel on it....